The stock of Eagle Bulk Shipping Inc (NASDAQ:EGLE) hit a new 52-week low and has $4.18 target or 12.00% below today’s $4.75 share price. The 5 months bearish chart indicates high risk for the $229.13 million company. The 1-year low was reported on Oct, 17 by Barchart.com. If the $4.18 price target is reached, the company will be worth $27.50 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 36,592 shares traded hands. Eagle Bulk Shipping Inc (NASDAQ:EGLE) has declined 79.66% since March 14, 2016 and is downtrending. It has underperformed by 85.27% the S&P500.
Analysts await Eagle Bulk Shipping Inc (NASDAQ:EGLE) to report earnings on November, 21.
According to Zacks Investment Research, “Eagle Bulk Shipping is the largest U.S. based owner of Handymax dry bulk vessels. Handymax dry bulk vessels range in size from 35,000 to 60,000 deadweight tons, or dwt, and transport a broad range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes.”
Insitutional Activity: The institutional sentiment decreased to 0.5 in Q2 2016. Its down 0.24, from 0.74 in 2016Q1. The ratio turned negative, as 20 funds sold all Eagle Bulk Shipping Inc shares owned while 8 reduced positions. 5 funds bought stakes while 9 increased positions. They now own 26.94 million shares or 13.39% less from 31.11 million shares in 2016Q1.
Citigroup holds 101 shares or 0% of its portfolio. Geode Cap Mgmt reported 14,643 shares or 0% of all its holdings. Deutsche Bancorp Ag reported 4,768 shares or 0% of all its holdings. The New York-based Jpmorgan Chase And Company has invested 0% in Eagle Bulk Shipping Inc (NASDAQ:EGLE). Blackrock Institutional Tru Company Na holds 0% of its portfolio in Eagle Bulk Shipping Inc (NASDAQ:EGLE) for 95,876 shares. Royal Retail Bank Of Canada, a Ontario – Canada-based fund reported 285 shares. Moreover, New York State Common Retirement Fund has 0% invested in Eagle Bulk Shipping Inc (NASDAQ:EGLE) for 20,300 shares. The Ontario – Canada-based Retail Bank Of Montreal Can has invested 0% in Eagle Bulk Shipping Inc (NASDAQ:EGLE). Ladenburg Thalmann Svcs Inc last reported 0% of its portfolio in the stock. Oaktree Capital Mgmt Lp accumulated 0.12% or 15.71 million shares. Vanguard Group Inc Inc owns 787,259 shares or 0% of their US portfolio. Moreover, Kcg has 0% invested in Eagle Bulk Shipping Inc (NASDAQ:EGLE) for 26,140 shares. Franklin last reported 0% of its portfolio in the stock. Goldman Sachs Grp last reported 0% of its portfolio in the stock. Manufacturers Life Ins Com The last reported 7,447 shares in the company.
Insider Transactions: Since August 10, 2016, the stock had 1 insider buy, and 0 selling transactions for $13.16 million net activity. $13.16M worth of Eagle Bulk Shipping Inc (NASDAQ:EGLE) was bought by GOLDENTREE ASSET MANAGEMENT LP.
More notable recent Eagle Bulk Shipping Inc (NASDAQ:EGLE) news were published by: Prnewswire.com which released: “Eagle Bulk Shipping Inc. Announces $85.0 Million Private Placement of Common Stock” on July 05, 2016, also Investorplace.com with their article: “Eagle Bulk Shipping Inc (EGLE): The Move of the Day” published on August 26, 2016, Prnewswire.com published: “Eagle Bulk Shipping Inc. Announces Reverse Stock Split” on August 05, 2016. More interesting news about Eagle Bulk Shipping Inc (NASDAQ:EGLE) were released by: Prnewswire.com and their article: “Eagle Bulk Shipping Inc. Announces Closing of $88.0 Million Private Placement …” published on August 10, 2016 as well as Prnewswire.com‘s news article titled: “Eagle Bulk Shipping Inc. Reports First Quarter 2016 Results” with publication date: May 10, 2016.
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